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NOI Net Operating Income N/A
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Attributes

Year Built 2019
Occupancy 100.0 %

Property Description

The Property is located more than 6 miles from their next closest store and is strategically situated in close proximity to major roadways – Route 50 / Washington Pike (25,000 VPD) and Interstate 79 (101,000 VPD). The PA turnpike’s $800 million Southern Beltway is also in the works and scheduled to be completed by mid-2021. The beltway will serve as a connector between Pittsburgh International Airport and I-79, which will intersect approximately 3 miles south of the Property. The Property is also a member of a greater development called the Bursca Business Park. The park, which is expected to increase the 25,000 vehicles per day count along this stretch of the Washington Pike corridor, will consist of office, flex, retail, showroom, technical and distribution areas. There is currently more than 1.2 million SF of available space.

Investment Highlights

JLL is pleased to exclusively offer the opportunity to acquire a single tenant property leased to Sheetz, Inc. in a growing suburb of Pittsburgh, PA. The property is located in Bridgeville, Pennsylvania, which is 15 minutes from downtown Pittsburgh and 20 minutes to the Pittsburgh International Airport; an area where Sheetz dominates the convenience store sector in Western Pennsylvania. Sheetz opened this location in 2019 and is operating on a brand new, 15-year, NNN ground lease. The lease features attractive, 10% rental increases every five years beginning in Year 11, which is rare for a Sheetz store. The rental increases shall continue in each of the seven (7), five (5) year options that remain.
Marc Mandel
Marc Mandel
Managing Director, Capital Markets
License details
PA - AB068236 DE - RS-0019936 NJ - 0894218
Gregory Zimmerman
Associate

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